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Bangalore , May 11

VALTECH India, the subsidiary of French consulting company Valtech SA, opened its global development centre here on Wednesday and expects to hire 1,000 people by 2006, said the Valtech CEO and Chairman of the Board, Mr Jean-Yves Hardy.

Investments are budgeted to touch 3 million euros by 2006, and the company said it expects a 50-per cent rise in revenues from offshoring and other decisions.

The company, with a total of 1,100 people worldwide, expects to offshore a third of its work to Bangalore and the "India centre will fully support the company's strategy of leading the offshore market in USA and Europe," said Mr B.V. Venkatesh, President and CEO, Valtech India.

The company, which acquired the 250-people company Majoris last year, expects to cater to its more than 20 global sourcing clients out of India, Mr Hardy said. The company has given a guidance for 91 million euros for the year.

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